In a freshly published memoir, called Ithaki, the ex- premier Tsipras pulls no punches as he reflects on that chaotic period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he selected that unorthodox academic Varoufakis as his treasury head mainly because of the latter's international reputation and his “extremely attractive” skills as a communicator.
“He was, in reality, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had his own motives which included advancing Varoufakis's publications as well as testing out his theories on Greece rather than truly fighting for its economic stability.
He explained that those discussions to prevent insolvency became “not just a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake was not only the country's destiny and the severe austerity measures demanded in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action which plunged Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The account of history has provoked anger and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
